422 Virginia Avenue — a Towson Mews end-of-group luxury townhome with upgrades galore, offering 1,944 square feet of impeccable, turn-key living across four sun-filled levels. The perfect choice for busy professionals, downsizers, and first-time buyers seeking convenience and a residence that truly sparkles. Ultra-convenient to the blossoming Towson hub, this spotless gem is just a few blocks from Cinemark, Towson Town Center, and a myriad of casual and upscale restaurants — Cunningham's Café and Bakery, the Atlas Group's Perennial, Towson Hot Bagels, Towson Tavern, and Towson Row with its Whole Foods Market. The location offers a zippy commute to Towson University, Greater Baltimore Medical Center, and University of Maryland St. Joseph Medical Center, with a Walk Score of 93 putting shopping, dining, parks, fitness centers, and pubs all minutes from your door. Built in 2018 with an appreciation for detail and quality, this home offers three bedrooms, four full bathrooms, and a sun-filled fourth-level loft that opens to a private terrace — an ideal retreat for a home office, lounge, or guest space. Wide-plank hardwood floors run throughout the upper levels. The gourmet kitchen is appointed with premium stainless steel KitchenAid appliances, quartz countertops, custom 42" cabinetry, an undermount sink, and recessed lighting. Refined touches continue throughout: plantation shutters, Hunter Douglas blinds, dimmers, custom shelving, a smart-home tech package, and multiple decks plus the rooftop terrace for easy indoor-outdoor living. A bona fide two-car attached garage means parking is always available, and James Hardie cement siding delivers low-maintenance peace of mind. The home was built energy-smart, with high-performance windows, an advanced insulation and energy-seal program, and a HERS-rated efficiency package. Homes this polished, in a location this walkable, don't last long in Towson. Coming soon!
Roam is your trusted partner for affordable home ownership. We help manage the assumption process from start to finish, enabling homebuyers to easily purchase their next home with a low-interest rate mortgage attached.
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50% max under FHA guidelines. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
An assumable mortgage is a type of home loan that allows a homebuyer to take over the existing mortgage terms from the seller, with no cost to the seller. Many government-backed loans, such as FHA and VA loans, are eligible for assumption, and millions of these mortgages are available.
When interest rates on mortgages are high, assuming a mortgage with a rate as low as 2% allows buyers to save up to thousands monthly compared to buying a home with a traditional mortgage at today’s average rates of 7%. A low-rate assumable mortgage could be the key to finding your dream home at an affordable price.
Roam has compiled available listings with low-rate assumable mortgages for you to browse. To get started, enter the city, state, zip code, or school district you’re interested in purchasing in. Utilize the search filters to narrow down your search. Click “Save search” to save your search preferences and activate listing notifications—we’ll email you as soon as new listings match your criteria.
Once you’ve found your dream home and ready to make an offer, schedule a call with a Roam Advisor directly from the listing. Your Roam Advisor will guide you through each step of the process, while also working directly with your agent, the servicer, and the seller to ensure you close on time.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
Yes. Non-veterans can assume a VA loan, provided they meet the lender’s VA criteria. When a qualified buyer assumes a VA mortgage from a veteran or active-duty service member, the seller’s VA loan entitlement remains tied to the assumed loan until the buyer pays off or refinances the loan. This process restores the veteran seller’s entitlement, enabling them to use their VA benefit for a future home purchase.
Yes. All FHA loans are assumable by law as long as the buyer meets the FHA’s credit, income, and qualification requirements and obtain lender approval before assuming the loan (per FHA regulations effected December 15, 1989). Roam makes this process simple for buyers.
Generally, conventional loans are not assumable. In rare cases, a conventional loan may be assumable with lender approval. Use our search tool to find homes with assumable low-rate loans, or reach out to us if you’d like to confirm a specific home’s assumability.
